EULAERTS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EULAERTS
Largest movements
- Stocks and contracts -€8,240
down €8,240 (-9.3%), from €88,650 to €80,410
- Tangible fixed assets +€3,551
up €3,551 (+208.9%), from €1,700 to €5,250
of which Other tangible fixed assets: +€4,285
- Receivables within one year -€3,085
down €3,085 (-51.7%), from €5,971 to €2,886
of which Trade receivables: -€3,080
- Cash +€1,651
up €1,651 (+3.8%), from €44,012 to €45,662
mainly Stocks and contracts (+€8,240) and Net result for the year (+€7,468)
- Other debts -€11,480
down €11,480 (-16.5%), from €69,532 to €58,052
- Profit (loss) carried forward +€7,468
up €7,468 (+7.9%), from -€94,682 to -€87,214
- Accrued charges and deferred income -€1,800
down €1,800 (-100.0%), from €1,800 to €0
- Gross operating margin -€6,561
down €6,561 (-13.7%), from €47,889 to €41,328
- Staff costs +€1,223
up €1,223 (+3.9%), from €31,007 to €32,230
- Depreciation +€1,159
up €1,159 (+342.7%), from €338 to €1,497
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €140,332 | €134,209 | -€6,123 | -4.4% |
| Fixed assets | 21/28 | €1,700 | €5,250 | +€3,551 | +208.9% |
| Tangible fixed assets | 22/27 | €1,700 | €5,250 | +€3,551 | +208.9% |
| Plant, machinery and equipment | 23 | €1,700 | €966 | -€734 | -43.2% |
| Other tangible fixed assets | 26 | - | €4,285 | +€4,285 | |
| Current assets | 29/58 | €138,633 | €128,958 | -€9,674 | -7.0% |
| Stocks and contracts in progress | 3 | €88,650 | €80,410 | -€8,240 | -9.3% |
| Stocks | 30/36 | €88,650 | €80,410 | -€8,240 | -9.3% |
| Amounts receivable within one year | 40/41 | €5,971 | €2,886 | -€3,085 | -51.7% |
| Trade receivables | 40 | €5,856 | €2,776 | -€3,080 | -52.6% |
| Other amounts receivable | 41 | €115 | €110 | -€5 | -4.0% |
| Cash at bank and in hand | 54/58 | €44,012 | €45,662 | +€1,651 | +3.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €140,332 | €134,209 | -€6,123 | -4.4% |
| Equity | 10/15 | -€17,611 | -€10,143 | +€7,468 | +42.4% |
| Contributions | 10/11 | €69,571 | €69,571 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,682 | -€87,214 | +€7,468 | +7.9% |
| Amounts payable | 17/49 | €157,944 | €144,352 | -€13,592 | -8.6% |
| Amounts payable after more than one year | 17 | €75,752 | €75,752 | = | 0.0% |
| Financial debts | 170/4 | €75,752 | €75,752 | = | 0.0% |
| Amounts payable within one year | 42/48 | €80,392 | €68,600 | -€11,792 | -14.7% |
| Trade debts | 44 | €2,100 | €697 | -€1,403 | -66.8% |
| Suppliers | 440/4 | €2,100 | €697 | -€1,403 | -66.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,760 | €9,851 | +€1,092 | +12.5% |
| Taxes | 450/3 | €3,896 | €4,290 | +€393 | +10.1% |
| Remuneration and social security | 454/9 | €4,863 | €5,562 | +€698 | +14.4% |
| Other amounts payable | 47/48 | €69,532 | €58,052 | -€11,480 | -16.5% |
| Accrued charges and deferred income | 492/3 | €1,800 | €0 | -€1,800 | -100.0% |
| Non-recurring operating income | 76A | €165 | €0 | -€165 | -100.0% |
| Remuneration, social security and pensions | 62 | €31,007 | €32,230 | +€1,223 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €338 | €1,497 | +€1,159 | +342.7% |
| Other operating charges | 640/8 | €275 | €284 | +€9 | +3.2% |
| Gross operating margin | 9900 | €47,889 | €41,328 | -€6,561 | -13.7% |
| Operating profit (loss) | 9901 | €16,269 | €7,318 | -€8,952 | -55.0% |
| Financial income | 75/76B | €169 | €187 | +€18 | +10.5% |
| Recurring financial income | 75 | €169 | €187 | +€18 | +10.5% |
| Financial charges | 65/66B | €68 | €36 | -€32 | -46.8% |
| Recurring financial charges | 65 | €68 | €36 | -€32 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €16,371 | €7,468 | -€8,902 | -54.4% |
| Profit (loss) for the period | 9904 | €16,371 | €7,468 | -€8,902 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,371 | €7,468 | -€8,902 | -54.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.